ARB's price shows signs of a potential double bottom formation, however, recent price action has resulted in the loss of key support levels.
Potential Double Bottom Formation
ARB has formed a potential double bottom, but this will not be confirmed until it breaks above $0.51.
Key Support Levels
The price has lost the value area high and is now approaching critical support at the Point of Control and 0.618 Fibonacci level. A bounce from this zone could lead to another rally, but failure to hold risks a drop toward the $0.26 range.
What to Expect Going Forward
ARB's next decisive move is likely to occur at the confluence of the point of control and 0.618 Fibonacci level. A strong bounce here may preserve the double bottom structure. However, if this support fails, the range may expand downward, complicating any breakout attempts.
While the double bottom formation is present, it has not yet been activated; only a confirmed breakout above $0.51 with strong volume will validate the pattern and pave the way for sustained upside.
